Ignyta, Inc., an oncology precision medicine biotechnology company,
today announced the pricing of an underwritten public offering of
5,245,000 shares of its common stock at a public offering price of $9.15
per share, resulting in gross proceeds of approximately $48.0 million.
In connection with the offering, shares of Ignyta common stock will
commence trading on the NASDAQ Capital Market under the ticker symbol
"RXDX" on March 14, 2014. In addition, Ignyta has granted the
underwriters a 30-day option to purchase up to an additional 786,750
shares of common stock.
Net proceeds, after deducting underwriting discounts and commissions and
estimated offering expenses, are expected to be approximately $44.5
million, excluding any exercise of the underwriters' option to purchase
additional shares of common stock. The offering is expected to close on
March 19, 2014, subject to customary closing conditions.
Leerink Partners LLC is acting as book-running manager for the offering.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann
Financial Services Inc. (NYSE MKT: LTS), is acting as co-lead manager
for the offering.
A registration statement on Form S-1 relating to the shares of common
stock being sold was declared effective by the Securities and Exchange
Commissionon March 13, 2014. A preliminary prospectus relating to the
offering has been filed with the SEC, and a final prospectus relating to
the offering will be filed with the SEC. Copies of the final prospectus,
when available, may be obtained from Leerink Partners LLC, Attention:
Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110,
or by email at syndicate@Leerink.com,
or by phone at 800-808-7525.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful, prior to registration or
qualification under the securities laws of any such state or
About Ignyta, Inc.
Ignyta, Inc., located in San Diego, California, is a biotechnology
company developing precision medicine with integrated Rx/Dx solutions
for cancer patients. Its goal is to discover and develop revolutionary
new drugs that target activated genes in cancer cells for the customized
treatment of cancer patients. The company's present focus is on the
development of RXDX-101, its proprietary oral tyrosine kinase inhibitor
that targets solid tumor indications, and advancing its novel Spark
discovery programs that leverage its proprietary cancer genomic and
epigenomic knowledge bases.
This press release contains forward-looking statements as that term is
defined in Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Statements in this press release
that are not purely historical are forward-looking statements.
Forward-looking statements in this release include, among other things,
statements regarding the completion of the offering and the expected net
proceeds therefrom. Actual results could differ from those projected in
any forward-looking statements due to numerous factors. Such factors
include, among others, market risks and uncertainties, the satisfaction
of customary closing conditions for the offering and other risks
described in Ignyta's filings with the Securities and Exchange
Commission. These forward-looking statements are made as of the date of
this press release, and Ignyta assumes no obligation to update the
forward-looking statements, or to update the reasons why actual results
could differ from those projected in the forward-looking statements,
except as required by law.
[ Back To NFVZone's Homepage ]